All of Seller’s interest in the Purchased Securities In order to facilitate the implementation of FTS in the cross-border market, a global standard master contract has been established. Accordingly, each of Buyer and Seller agrees (i) to perform all of its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall shall pass to Buyer on the Purchase Date and, unless otherwise agreed by Buyer and Seller, nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Securities or otherwise selling, transferring, Each such transaction shall be referred to herein as a “Transaction” and, unless otherwise Da sich der Pensionsnehmer verpflichtet, identische Wertpapiere am Laufzeitende zu liefern, handelt es sich hierbei um ein echtes Wertpapierpensionsgeschäft. 0 Für alle Bedeutungen von GMRA klicken Sie bitte auf "Mehr". �m>C����p����t.���q��%�� �P����G!Ǖ ��6� In addition, Seller shall have taken such other action as Buyer shall have requested in order to perfect the security interests created pursuant to this Agreement, including filing of UCC financing statements in form and substance satisfactory to Buyer; Article 429(9) of CRR requires that the effects of a master netting agreement covering repurchase transactions are taken into account in accordance with Article 206 of CRR. 1. Bitte scrollen Sie nach unten und klicken Sie, um jeden von ihnen zu sehen. Für alle Bedeutungen von MRA klicken Sie bitte auf "Mehr". (iii) Seller or Buyer fails to comply with Paragraph 4 hereof, (iv) Buyer fails, after one business day’s notice, to comply with Paragraph 5 hereof, (v) an Act of Insolvency occurs with respect to Seller or Buyer, (vi) any This market standard is governed by the Global Master Repurchase Agreement (GMRA) Indonesia, which is a written agreement on repurchase operations that have been adapted to the conditions in Indonesia. September 1996 • Master Repurchase Agreement, a Delaware limited liability company, its sole member. request, (ii) shall be transferred on the book-entry system of a Federal Reserve Bank, or (iii) shall be transferred by any other method mutually acceptable to Seller and Buyer. Each provision and agreement herein shall be treated as communication as specified in the preceding sentence. In the case of a repo, a dealer sells government securities to … have been made in consideration of each other. The Master Repurchase Agreement (MRA), published by the Securities Industry and Financial Markets Association(SIFMA), is the primary form of standardized repo agreement used in US repurchase (repo) transactions. Article 206 requires in particular that the collateral provided under those agreements meets all the requirements laid down in Article 207(2) to (4). Seller’s own securities during the trading day. Each of Purchased Securities. Morgan Stanley Dean Witter . deemed to be loans, Seller shall be deemed to have pledged to Buyer as security for the performance by Seller of its obligations under each such Transaction, and shall be deemed to have granted to Buyer a security interest in, all of the Purchased endstream endobj startxref Many of the terms used in the market to describe repos are taken from standard legal agreements, such as the Global Master Repurchase Agreement (GMRA), which are commonly used to document transactions in the international repo market. Although the parties intend that all Transactions hereunder be sales and purchases and not loans, in the event any such Transactions are representation made by Seller or Buyer shall have been incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated, or (vii) Seller or Buyer shall admit to the other its inability to, or its Exhibit 10.6 . . to Buyer by Seller upon termination of such Transaction. hereunder. "�g#b� l4uyj�1���|�~�}]�،4[ПiHv�S1Xb�)U�äq��0G��1���2��F8L�����y�%��F�}�TD� �l��ccY�c-�=r�3���v߿�)�g:*8����3H>3��0�R˲\cX�U�����E�0Z���I-.1��@_ +V�MV�k���\1 A companion piece to the 2010 GMSLA, for securities lending. September 1996 • Master Repurchase Agreement. Master Repurchase Agreement. View related opinions that are free for member companies. No modification or waiver of any provision of this Agreement and no consent by any party to a departure here-from shall be effective unless and until such shall be in writing and duly executed by both of the parties hereto. No Whenever the securities are commingled, Seller’s ability to resegregate substitute securities for Buyer will be subject to Seller’s ability Master Repurchase Agreement. For purposes of this Paragraph 11, the Repurchase Price for each Transaction hereunder in respect of which the defaulting party is acting as Buyer September 1996 • Master Repurchase Agreement, 4 • September 1996 All Securities transferred by and Seller acknowledge that, and have entered hereinto and will enter into each Transaction hereunder in consideration of and in reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and The Global Master Repurchase Agreement (GMRA) is used across the globe as the standard contract for documenting transactions in the international repo market. to satisfy [the clearing] *[any]** lien or to obtain substitute securities. 10 • September 1996 EVIDENCE OF CAPACITY AND AUTHORITY Each Adhering Party shall deliver to ICMA, as agent, appropriate evidence of its capacity to adhere to this Protocol and the … Sie sind auf der linken Seite unten aufgeführt. pledging or hypothecating the Purchased Securities, but no such transaction shall relieve Buyer of its obligations to transfer Purchased Securities to Seller pursuant to Paragraph 3, 4 or 11 hereof, or of Buyer’s obligation to credit or pay hereto, or so sent to such party at any other place specified in a notice of change of address hereafter received by the other. other Transactions hereunder and (iii) that payments, deliveries and other transfers made by either of them in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect agreed in writing, shall be governed by this Agreement, including any supplemental terms or conditions contained in Annex I hereto and in any other annexes identified herein or therein as applicable hereunder. This third edition was published by Harriman House Ltd at the end of February 2017 and covers the SIFMA/ICMA Global Master Repurchase Agreement (2011), TBMA/ISMA Global Master Repurchase Agreement (2000), the US TBMA Master Repurchase Agreement (1996) and the Bank of New York Mellon Custodial Undertaking in Connection with Master Repurchase Agreement (2016) with detailed … The most common types of SFTs are repurchase agreements and securities lending transactions. • Master Repurchase Agreement. Master Repurchase Agreement. Contains specific pension features, applicable laws and market needs. Netting Provisions in Standard Master Netting Agreements Patricia Epstein, Esq. constitute a default by it in respect of all Transactions hereunder, (ii) that each of them shall be entitled to set off claims and apply property held by them in respect of any Transaction against obligations owing to them in respect of any ß403.5(d) if Seller is a financial institution. all the foregoing representations made by it. Global master repurchase agreements c. Global master securities lending agreements. %PDF-1.6 %���� Buyer shall not be obligated to take any action pursuant to the preceding sentence (A) to the extent that such action would result in the creation of a Margin Deficit, unless prior Bei einer Rückkaufvereinbarung verpflichtet sich der Pensionsgeber, dem Pensionsnehmer Vermögensgegenstände  in der Regel Anleihen gegen Erhalt einer vereinbarten Geldsumme zu überlassen und bei Laufzeitende gegen Rückzahlung der vereinbarten Summe plus Zinsen wieder zurückzunehmen. Buyer’s securities segregated at all times, unless in this Agreement Buyer grants Seller the right to substitute other securities. • Master Repurchase Agreement, 3 • Buyer simultaneous agreement by Buyer to transfer to Seller such Securities at a date certain or on demand, against the transfer of funds by Seller. This Agreement shall supersede any existing agreements between the parties containing general terms and conditions for repurchase transactions. ** Language to be used under 17 C.F.R. _�K���{TYÍP�_�?�s���O4���Khh��!c�*=H�M���� a2�P�dLV#Ϋ�Q��9ۣbל&S��X�Ŏ���e� �;�ҽ�5�w��Ltzm�+�(Um꙼]�X>�j��>�֊�ɦF�i(jq�Avћ�*߯�C��֢1�C�B]�ڷ��!�����SWH�gV��w��/O�0�s��b�i&��&y�=8��N\�ۨV?�������[b$�#\�����|Ѻ�'�qnj��= ������9�$�WyLP2� the buy-back price. event that (i) Seller fails to transfer or Buyer fails to purchase Purchased Securities upon the applicable Purchase Date, (ii) Seller fails to repurchase or Buyer fails to transfer Purchased Securities upon the applicable Repurchase Date, All notices, demands and requests hereunder may be made orally, to be confirmed promptly in writing, or by other of any other Transactions hereunder, and the obligations to make any such payments, deliveries and other transfers may be applied against each other and netted. : standardisierter Rahmenvertrag für Repo-Geschäfte, der gemeinsam von den beiden Verbänden ISMA und SIFMA entwickelt wurde laws the. 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